Invest In India

It is a well-known fact that the rapidly growing businesses and population are putting a lot of pressure on India’s power resources. Unfortunately, India is woefully lacking in all types of power resources, except one – solar power. We take a look at what solar power generation entails for India and how it will change the energy scenario in India.

Solar power entails producing energy from the sun instead of oil and electricity. The sun’s energy is available abundantly and freely and can be used in two ways:

*      Solar thermal energy: Here the solar energy is converted into solar power through equipment. Example, solar hot water heating system, solar drying system, solar cooking system, etc.

*      Solar photovoltaic energy: In this method, the solar energy is converted into electrical energy through equipment using solar photovoltaic technology. It can be used to power anything from a single bulb to all the street lights in the city.

Solar power can be an important source of power for India. These are the reasons why India should focus more on solar power:

* India gets plenty of sunlight due to its proximity to the equator. It receives an annual average of 4-7KWh per day for every square meter, meaning the country receives a lot more sunlight than what it can use in a year, making it an abundant source of power.

* India is a poor source for conventional fuel sources. It is dependent on the Gulf countries for its oil supplies. With the oil prices skyrocketing and the reluctance of the Indian government to hike the prices of LPG and kerosene, Indian oil companies are suffering major losses. Even electric supply in the country is unable to meet the burgeoning demands of the growing population and businesses.

* India does not have resources to pay the huge bills of the oil producers.

Keeping in mind the growing potential of solar power generation, several large players have entered into this business. Solar Power India, Tata and Reliance Industries are some of the biggies that have major plans for this industry. This will give a big boost to this field as these companies can invest a lot of money in research to make the technology cheaper. This, in turn, will make solar energy accessible to the common man. As more and more people take to solar power, the costs are expected to reduce.